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According to Yonhap News,
(CHEONGJU = Yonhap News) — North Chungcheong Province and Cheongju City signed a USD 112.5 million (KRW 150 billion) investment agreement on August 6 with Stemco Co., Ltd., a foreign-invested enterprise that manufactures inductor coils and other electronic components.
The signing ceremony held at the North Chungcheong Provincial Government Office was attended by Governor Shin Yong-han, Mayor Lee Jang-seop, and Stemco CEO Um Young-ha, among others.
Headquartered in Oksan-myeon, Heungdeok-gu, Cheongju City, Stemco produces Chip On Film (COF) for displays and inductor coils for mobile power transmission. Through this investment, the company decided to expand its production facility for inductor coils (ID-Coil) used in thin-film power inductors.
The project is expected to create 60 new jobs.
The inductor coils targeted in Stemco's investment are key electronic components used in Samsung Electro-Mechanics' thin-film power inductor production.
Cheongju City expects that the investment will contribute to supply chain stabilization and new job creation in connection with the region's advanced industry ecosystem, including semiconductors, secondary batteries, materials, parts, and equipment.
The city plans to provide administrative support, including licensing and permits, in collaboration with North Chungcheong Province.
Mayor Lee Jang-seop stated, "As the production base for core components connected to future industries such as artificial intelligence (AI), electric vehicles, and semiconductors expands in Cheongju, we will actively support the company so that this investment leads to local economic revitalization and the creation of high-quality jobs."
jeonch@yna.co.kr
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Source Text
Source: Yonhap News (August 06, 2026)
** This article was translated from Korean.